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Forex Flash: G7 meeting in focus as Currency War talk hots up again - BTMU

FXstreet.com (Barcelona) - Derek Halpenny, European Head of Global Markets Research at the Bank of Tokyo Mitsubishi UFJ notes that the the G-7 finance ministers and central bank governors meeting will take place in London today and will certainly be the focus on a relatively light day for data from Europe.

Interestingly, he notes that UK Chancellor Osbourne released a statement saying that the meeting was “an opportunity to consider what more monetary activism can do to support the recovery, while ensuring medium term inflation expectations remain anchored”. So, he feels that it would appear from that the onus is likely to remain on central banks to support the global economy meaning more easing ahead, which will act to benefit the dollar further. Also, Bernanke is not attending!

Forex: EUR/USD testing the 1.3000 barrier

The EUR/USD is facing another debilitating session, having briefly touched below the 1.3000 barrier in recent moments en route to session lows at 1.2991 Friday during European trading. At the time of writing, the cross is testing this region, stubbornly clinging to the 1.2999/02 level and incurring a loss of -0.29% today.
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Forex Flash: BoK are the surprise doves - BBH

Brown Brothers Harriman analysts note that the Bank of Korea delivered a dovish surprise Thursday, cutting rates for the first time since October 2012.
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